402 Millville Rd

Bloomsburg, PA 17815

$218,000D-

4 bd · 2.5 ba · 1,292 sqft · Built 1922 · Other · Active · 175 DOM

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,611/mo
• Mortgage (P&I): −$1,143
• Tax + insurance: −$301
• HOA: −$0
• Vac / Maint / Mgmt: −$338
• Net cashflow: $-171/mo
• Annual: $-2,052/yr
• Cap rate: 5.35%
• Cash-on-cash: -3.36%
• DSCR: 0.85
• 1% rule: 0.74%
• Cash to close: $61,040

Investor read

• This is a 4-bed/2.5-bath other listed at $218k.
• At list price, monthly cash flow is $-171 ($-2k/yr) — negative.
• To cash-flow at today's rent, offer at most $188k (13.9% below list).
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $161k (26.1% below list).
• It's been on market 175 days — a 12% lower offer ($192k) is reasonable based on typical stale-listing flexibility.
• Recommended offer: $161k (26.1% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $2k of loan paydown is wiped out by about $7k of value loss. Plan a longer hold.
• Location reads 82/100 on livability (#147 in PA, #1,183 nationally) — a professional / high-income tenant draw. Strengths: amenities A+, cost of living A+, housing A+; Watch: employment D, commute F.
• Bloomsburg Area SD (urban): math 33% / reading 57% proficiency, ranked #289 of 539 in PA (top 54%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: W W Evans Memorial El Sch (math 47% / reading 62%, grade C, #504 of 1,518 statewide, top 37%, 220 students, 31% FRL); Bloomsburg Area Ms (math 21% / reading 52%, grade F, #307 of 512 statewide, top 61%, 354 students, 46% FRL); Bloomsburg Area Hs (math 52%, 428 students, 43% FRL) — zoned schools at 40% FRL track the district average.
• Watch-outs: built in 1922 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+6.8%/yr); 125 active listings in the ZIP; 1 comparable units currently listed for rent nearby; 82 units permitted in Columbia County in 2024 (0 in 5+ unit buildings).
• Columbia County population projected at -12% by 2050 — secular population decline; favor cash flow + early exit over multi-decade hold.
• Cap rate 5.4% vs local median 3.8% in Bloomsburg — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Questions for listing agent

• What do current leases actually rent for vs. the listed asking? Can we see a recent rent roll and the last 12 months of T-12 income?
• It's been on market 175 days. Have you received any prior offers? Is the seller open to a 26% concession, seller financing, or rate buy-down credit?
• Built in 1922 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.